is statement of account?
A document issued by the mutual fund, which gives details of their
transactions and holdings of an investor.
how much time a person should receive the Account Statement?
Mutual funds are required to dispatch certificates or statements
of accounts within six weeks from the date of closure of the
initial subscription of the scheme. In case of close-ended
schemes, the investors would get either a demat account statement
or unit certificates as these are traded in the stock exchanges.
In case of open-ended schemes, a statement of account is issued by
the mutual fund within 30 days from the date of closure of initial
public offer of the scheme. The procedure of repurchase is
mentioned in the offer document
I get my account statement and other communication on email?
Yes, you can get email communication instead of the physical
communication of the following:
- Account Statement, OR
- Quarterly Newsletter & Annual Report, OR
- Communication on change of Address, Bank, etc.
You need to provide your email id and subscribe for the above at
the time of investing by ticking at the relevant column of the
application form / common transaction form.
have multiple accounts in a fund. Can I consolidate?
Yes, you can consolidate multiple accounts in a fund. The
pre-requisite for consolidation is that all static details like
Address, Bank, Mode of Holding; Unit holders etc… have to be
identical across all accounts in a fund. Upon receipt of a valid
request, consolidation into a single account would take place.